Comment 29472

By JonC (registered) | Posted March 11, 2009 at 08:45:34

If anyone is still reading his thread... A good article about how 600 trillion dollars were created in the past decade. http://www.villagevoice.com/2009-01-28/n... This is where the last decades of global growth were derived

"About $2 trillion in credit derivatives in 1989 jumped to $8 trillion in 1994 and skyrocketed to $100 trillion in 2002. Last year, the Bank for International Settlements, a consortium of the world's central banks based in Basel (the Fed chair, Ben Bernanke, sits on its board), reported the gross value of these commitments at $596 trillion."

That's more than 4 times the value of all printed money and 10 times the value of all the stock exchanges combined.

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